Firm Info
Firm Size
Services Offered
- Financial Planning
- Portfolio Management for Individuals & Small Businesses
- Portfolio Management for Businesses or Institutional Clients
- Pension Consulting Services
- Other
Types of Clients
- Individuals (Not High Net Worth)
-
Individuals High Net Worth
*>=750k in Investable Assets or >=1.5m of Estimated Total Net Worth
- Pension & Profit Sharing Plans
- Charitable Organizations
- Corporations or Other Businesses Not Listed Above
Available Fee Structures
- Percentage of Assets Under Management (AUM)
- Hourly
- Fixed Fees (Other than subscription)
- Other
Sterling Financial Planning Inc Overview
Sterling Financial Planning Inc is a fee-only registered investment advisory firm with its headquarters located in Sparta, NJ. They have been in business since the year 1998 and are experts in providing investment advice only to their clients. The firm is highly focused on offering financial planning services, and portfolio management services for both individuals and small businesses. Additionally, Sterling Financial Planning Inc offers portfolio management for businesses or institutional clients, thereby catering to a wider range of clients. The company is also known to provide pension consulting services, which is an additional area of expertise. Apart from dealing with securities, they also provide advice on matters not involving securities, such as legal, tax, accounting, and other related services. By adopting a fee-only structure, Sterling Financial Planning Inc ensures that their advice is always unbiased and solely focused on the best interests of their clients. They do not receive any commissions from third-party advisors or mutual fund companies. Overall, Sterling Financial Planning Inc is a highly specialized firm that offers personalized investment advice and a range of services to its clients across various domains.
STERLING FINANCIAL PLANNING INC caters to a diverse range of clients, including individuals, high net worth individuals, pension or profit sharing plans, charitable organizations, and various corporation types not listed. With a client-centric approach, the company recognizes the unique needs and financial goals of each client and provides comprehensive financial planning services tailored to their individual needs. The firm understands that each client is different and has unique financial requirements. Thus, for the convenience of clients, they offer various fee structures depending on the service provided. These fee structures include percentage of AUM, hourly, fixed fees, and other types of fees based on the client's specific needs and preferences. Percentage of AUM is a fee based on the percentage of assets under management, while hourly and fixed fees are self-explanatory and charged based on the time spent on service provided. Furthermore, other types of fees can cover multiple fees, such as charges for consultation or administrative services. STERLING FINANCIAL PLANNING INC provides clients with the flexibility to choose the most appropriate fee structure based on their needs and financial objectives.
Typical Clients, Fee Structures & Investment Minimum
According to the note in their Part 2 Brochure, Sterling Financial Planning Inc generally works with new clients who have at least $500,000 in investment assets to provide investment advisory services. Therefore, it can be inferred that their investment minimum is $500,000.
How This Office Can Help Fort Lee, NJ Residents
Sterling Financial Planning specializes in providing financial assistance to clients in Fort Lee, NJ. The firm offers a range of services tailored to meet the specific needs of each individual client. For those struggling with debt or living paycheck to paycheck, Sterling Financial Planning offers debt management counseling and financial coaching to help individuals get back on track. For those nearing retirement age, Sterling Financial Planning offers retirement planning services to help clients achieve their financial goals in their golden years. The firm also offers investment management services to help clients grow their wealth and safeguard their financial futures. With a wealth of experience and a commitment to providing personalized service, Sterling Financial Planning is an invaluable resource for anyone seeking to improve their financial situation in Fort Lee, NJ.
Services Offered by Sterling Financial Planning Inc
Core Advisor Services
Financial Planning
Financial planning services encompass the process of devising strategies for your future financial well-being, including preparing for events such as retirement, funding your child's college education, or planning for the transfer of assets.
Portfolio Management for Individuals & Small Businesses
Portfolio management entails the careful selection and strategic management of investment combinations tailored to meet the needs of individuals and small businesses.
Market Timing Services
Market timing services involve the endeavor to generate short-term profits from investments by capitalizing on opportunities to buy at low prices and sell at high prices.
Other Services
Selection of Other Advisors
The firm provides support in selecting and engaging other advisors who possess specialized expertise to complement your financial needs.
Publication of Periodicals or Newsletters
The firm engages in the dissemination of diverse financial educational materials through the publication of periodicals.
Educational Seminars & Workshops
The firm organizes and conducts seminars or workshops aimed at enlightening investors on various financial concepts.
Fee Structures
Financial advisory fees usually are based on the services provided. Fee types charged by Sterling Financial Planning Inc most likely consist of the following fee types: asset-based, hourly or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by the firm.
Available
Percentage of Assets Under Management (AUM)
This fee structure charges a percentage of the assets under management by the firm. Fee structures are often tiered based on the amount of assets managed, with higher AUM often charged a lower rate.
Between 0.50% and 2.00% of assets under management (annually), often lower for a robo advisor. Fees are typically charged quarterly by the firm and will show on your investment statement. View typical advisor costs here.
~96% of registered firms offer this fee structure.
If you have $1 million managed by a firm at a 1% management fee, you would be charged $10,000/year to manage your assets (or $2,500 per quarter). This would be automatically deducted from your investment portfolio.
Hourly
Similar to an attorney, a financial consultant might charge fees based on hourly rates. This fee structure can be advantageous when seeking specific or ad hoc advice.
Charges generally span from $150 to $400 per hour, depending on the extent of the services required.
~33% of registered firms offer this fee structure.
If you needed hourly consulting to sell a business or transfer your estate to your children but did not want your assets managed by a firm, you could consult a firm at an hourly rate to answer any questions you may have.
Fixed Fees (Other than subscription)
Fixed fees are a one-time, lump-sum payment rendered for a specific service, such as creating a financial plan without ongoing management or implementation. This option is beneficial if you solely require guidance for a particular objective rather than a long-term consultancy or asset management.
Fixed fees for creating a financial plan often range from $1,000 to $3,000.
~49% of registered firms offer this fee structure.
If you did not want a firm to manage your assets but needed to create a retirement plan, life transition plan such as divorce or loss of a spouse, estate transition plan, business financial plan, or any other financial planning, you could consult with an RIA firm to help you with the creation of that plan.
Other
Firms occasionally offer unconventional fee structures when charging clients. For more detailed information about a firm’s specific fee structures, please refer to their Form ADV and Part 2 Brochure.
Unavailable
Subscription (Newsletter or Periodical)
Commissions
Occasionally, advisors are compensated through commissions by selling certain financial products, such as mutual funds or life insurance policies, or as a broker-dealer by facilitating the buying and selling of securities. Advisors who receive commissions may be incentivized to make specific suggestions to clients in order to secure a commission. Advisors who operate on a fee-only basis do not earn commissions, whereas fee-based advisors may do so.
Often 3% - 6% of the value of the security.
Only ~3% of registered firms say they offer this fee structure, but other advisors may receive “soft dollars”. Many mutual funds charge 12b-1 fees to cover the promoting and selling of the fund’s shares. While your advisor does not charge these fees, they may receive a kickback for recommending the investment.
An advisor selling their client on a life insurance policy and receiving a commission on the sale of that policy, or recommending a specific investment and receiving a kickback for that recommendation.
Performance-based Fees
Advisors typically obtain performance-based fees if a portfolio surpasses a predefined benchmark. This fee is determined through various methods, but is most commonly assessed as a percentage of investment gains. Performance-based fees may incentivize advisors to undertake riskier decisions in pursuit of generating higher returns.
“Two and Twenty” is common among hedge funds with a 2% management fee and a 20% incentive fee above the “hurdle rate,” or performance threshold the fund is compared against.
32% of registered firms offer this fee structure.
A hedge fund earns a 15% return with a 20% performance fee in above the performance of the S&P 500, which grew 7% that same year.
20% of fund growth in excess of S&P 500’s 7% growth for that year = 15% hedge fund growth - 7% S&P 500 growth = 8% difference x 20% = 2% performance fee (in addition to the management fee).
Types of Clients
*The Securities & Exchange Commission defines someone as “high net worth” if they have $750,000 or more in investable assets or $1.5M of estimated total net worth.
This Office Location
- Mon 8:30 AM–5 PM
- Tue 8:30 AM–5 PM
- Wed 8:30 AM–5 PM
- Thu 8:30 AM–5 PM
- Fri 8:30 AM–5 PM
- Sat Closed
- Sun Closed
Other Office Locations
Firm Headquarters
This firm has no other locations.
State Registrations
Sterling Financial Planning Inc is registered to service clients in the following states:
- California
- Florida
- Georgia
- Louisiana
- Maine
- Massachusetts
- New Hampshire
- New Jersey
- New York
- North Carolina
- Pennsylvania
- South Carolina
- Texas
- Virginia
Disciplinary History
Sterling Financial Planning Inc does not have any disclosures. Please visit it's Form ADV for more details.